HQ Team
November 26, 2024: Switzerland’s F. Hoffmann-La Roche AG will buy US-based biopharmaceutical company Poseida Therapeutics for $1.5 billion, according to a statement from the Basel-headquartered company.
Roche will pay $9 a share in cash, and shareholders will receive an additional non-tradable contingent value right (CVR) of $4 per share if certain milestones are met, taking the total equity value of the deal from prior CVR of $1 billion to $1.5 billion, according to the statement.
The price payable at closing represents a premium of approximately 215% to Poseida’s closing share price on November 25, 2024. The deal is expected to close in the first quarter of 2025.
The acquisition “will allow us to drive further progress in allogeneic cell therapy while leveraging the successful existing partnership with Poseida,” said Levi Garraway, Head of Product Development and Chief Medical Officer at Roche.
CART-T cell therapies
“We are very encouraged by the early clinical data, and this acquisition builds on our joint progress to catalyse the development of potentially first and best-in-class cell therapies in oncology, immunology and neurology.”
Roche and Poseida have an existing collaboration and licence agreement established in 2022, which focuses on developing off-the-shelf CAR-T cell therapies to address the medical needs of patients with haematological malignancies.
The joint vision of Poseida, Roche and Genentech, a member of the Roche Group, is to deliver the next generation of off-the-shelf CAR-T cell therapies at a scale that can reach more patients and enable broad commercial use, according to the statement.
Based in San Diego, California, Poseida’s research and development portfolio includes pre-clinical and clinical-stage off-the-shelf (also referred to as allogeneic) CAR-T therapies across several therapeutic areas.
Portfolio assets
These include haematological malignancies, solid tumours, autoimmune diseases, manufacturing capabilities and technology platforms.
Roche will obtain access to Poseida’s GMP manufacturing capabilities research and development portfolio assets, and their know-how and expertise.
The two important assets acquired are P-MUC1C-ALLO1, an allogeneic CAR-T programme currently in phase 1 in solid tumours, and genomic medicine pre-clinical candidates and related technologies.
Poseida employees will join the Roche Group as part of Roche’s Pharmaceuticals Division.
